Computerised accounts Tag

April 15, 2016
Quarterly tax return plan criticised by watchdog
The Administrative Burdens Advisory Board, the independent body that oversees HMRC, has refused to support the Government's plans to force small businesses to submit quarterly digital tax returns.
Under its Making Tax Digital strategy, HMRC has proposed that...

Small businesses such as sole traders have had a record number of their assets seized as a result of non-payment of self-assessment tax bils
HMRC made a record number of asset seizures last year from self-assessed taxpayers who could not settle their tax debts, many of...

The Association of Chartered Certified Accountants (ACCA) have warned of the pitfalls of individuals completing their self-assessment tax returns themselves:-
Hundreds of thousands of extra people are expected to complete a self-assessment tax return for the first time by 31 October, including people who have won...

Since the inception of RTI (real time reporting) for payroll payments, some employers have had difficulties reconciling what they think they owe the HMRC with what the HMRC believes is owed:-
HMRC have issued a report which sets out findings from an analysis following feedback that...

Company directors who take a proportion of their salaries as dividends could be building up a significant liability if things do not go according to plan, warns insolvency experts, Cranfield Business Recovery.
It is usually common practice for accountants and financial advisers to recommend owner directors...

During the 2012-13 tax year, many either unpaid workers (interns) or low paid workers earning below the national minimum wage have received what they are due after numerous investigations by the HMRC:-
More than 26,000 workers denied the national minimum wage by unscrupulous employers have received...

The HMRC have issued a warning for individuals to be wary of any scam emails suggesting that you may be due a refund of tax or tax credits:-
Tax credits claimants are being warned about scam or ‘phishing’ emails sent out by fraudsters in the run-up...

HMRC is stepping up its existing powers to seize assets for unpaid VAT bills.
HMRC has used its powers of ‘distraint’ to seize the assets of businesses in order to recover VAT from businesses that have failed to meet this tax obligation.
According to finance provider Syscap,...

The AAT (Association of Accounting Technicians) has shown further commitment toward focusing on the professional ethics for its members
The AAT has stressed its commitment to raising the focus on professional ethics in the wake of recent widespread publicity on tax avoidance issues.
The pledge is contained...

Any taxpayers who have still yet to file their tax return for the tax year ended 5th April 2012 will be issued stiff penalties from the HMRC. All tax returns for the 11/12 tax year should have been filed by the 31st January 2013....